Well for those that don't know, they are remaking The Karate Kid.
The kid will be played by Will Smith's son and the Miyagi character will be played by Jackie Chan.
Oh and it's taking place in China...
http://www.telegraph.co.uk/news/newstopics/celebritynews/6699903/The-Karate-Kid-remake-first-pictures-of-Will-Smiths-son-Jaden-in-starring-role.html